Demica launches Saudi British Banks supply chain finance platform

Friday 30 August 2019 14:25 CET | News

London-based Demica has launched the supply chain finance platform of Saudi British Bank, enabling the bank to offer payables finance to its clients.

SABB is also looking to incorporate Demica’s supplier onboarding tool to enable secure collection of KYC information, Demica said in a statement. After deploying and integrating the solution, Demica continued to work closely with SABB to deliver new products and functionality.

Saudi Arabia-based lender SABB is 40% owned by HSBC Holdings. It recently merged with Alawwal Bank to create Saudi Arabia’s third-biggest lender, in a USD 5 billion deal that marked the first banking tie-up in the kingdom in two decades.

Demica provides Working Capital Solutions to large corporates and financial institutions.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Demica, Saudi British Bank, supply chain finance platform, supply chain finance, Saudi Arabia, SBB, MENA, payables finance, B2B payments
Countries: World

Industry Events